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Professor Gordon posits that the best years of U.S.growth are behind us because of four "headwinds," which are:
Oligopoly
A market structure characterized by a small number of firms that have significant control over market prices and competition levels.
Barriers To Entry
Obstacles or hindrances that make it difficult for new competitors to enter a market or industry.
Herfindahl Index
A measure of market concentration that squares the market share of each firm competing in the market and sums the resulting numbers.
Oligopolistic Industry
A market structure characterized by a small number of large firms dominating the industry, leading to limited competition.
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